Page 112 - RusRPTFeb24

Gas prices in Europe fell to their lowest level in January since the end of summer. The benchmark TTF gas price hit a five-month low in Amsterdam in early January as investors grew more confident that EU gas stocks would see them through to warmer weather. The price fell by almost 10% to €31.19 per MWh. It is significantly lower than in the same period a year ago (around €70). EU storage is currently 83% full, the second highest level for this point in the season since at least 2011. But gas prices are still higher compared to before the invasion of Ukraine.
Poland hindering investigation into Nord Stream explosions. The Nord Stream underwater pipelines connecting Russia to Germany were blown up in September 2022. Investigations have been ongoing since then, but have yet to produce a definitive conclusion into the source of the explosion.
Azerbaijan exported 23.8 billion cubic meters of gas in 2023, including 11.8 billion cubic meters - to Europe, the press service of the Republic's Energy Ministry reported. Of this volume, 11.8 billion cubic meters (50% of total exports) were supplied to Europe, 9.5 billion cubic meters (40%) - to Turkey, 2.5 billion cubic meters (10%) - to Georgia. gas production in Azerbaijan in 2023 amounted to 48.3 billion cubic meters, which is 3.2%, or 1.5 billion cubic meters more than in the corresponding period last year. In 2022, Azerbaijan
112 RUSSIA Country Report February 2024 www.intellinews.com